se seats, that's an experience. >> an experience indeed. so what's the price tag? so what's the price tag? "your money" starts right now. -- captions by vitac -- www.vitac.com lights, camera, flop. i'm john berman in for christine romans. if nobody sees it, will it change the way you watch movies for good? call it hollywood's latest disaster epic. no one in the film business wants to see a sequel, an avalanche of mega movies have fallen with a thud. columbia pictures "after earth," disney's lone ranger" and i ppd all fell short of expectations. with price tags exceeding $100 million, these productions will be lucky to make back half of what they spent. steven spielberg director of the

original blockbuster "jaws" says all these busts will change what you end up paying at the box office. >> eventually, you will have to pay $25 to see the next "ironman." and you will probably have to pay $7 to see "lincoln." >> reporter: like many other american industry, globalization has hit hollywood and business a abroad has helped the bottom line. "ironman 3" made about $300 million at home but more than double that abroad. it turns out the international market has a taste for the epic computer effect heavy spectacles. that's just one reason the big studios are shying away from riskier original storytelling. each of the top five highest grossing movies this summer were remakes or sequels. "star wars" creator, george lucas, knows a thing or two about sequels and he agrees with steven spielberg's vision of the future. >> what used to be the movie

business, now it will be the television business which actually has nothing to do with television. >> reporter: amc's "breaking bad," "game of thrones"" and "homeland are drawing viewers away from the video. whats the future for movie-goers who have big ideas but perhaps smaller wallets. spike lee has been telling original stories for decades from "do the right thing" to "inside man" one of my favorites. what does the future look like for directors who don't want to churn out 3d remakes and sequels. spike lee, what do you think about that? what's the future? >> see what the two guys who invented the blockbuster. mr. spielberg and mr. lucas. i can't top that. they hit the nail, they hit it right on the head. >> you have changed the way you are doing business. explain. >> well, my newest film, i'm

raising money through kick st t starting, which is really about crowdfunding. like to say i've been doing kick starter before there was kickstarter. my first feature film yesterday was the 27th anniversary of it. >> happy anniversary. >> thank you. the budget is $175,000 for "she's got to have it." there wasn't internet. social media to me was writing letters, writing postcard, licking nflenvelopes and lickin stamps and making phone calls. i've been doing this from the beginning. i'm trying to use technology to get the money. >> the technology lets you do things that may not have been available 27 years ago. >> yes. >> no may, it has. >> people you've never met, people you've never laid eyes on, you will never meet will be investing opposed to people, friends, neighbors, the like raising money before. there's a sense among some

people kickstarter is for the grassroots, the small-time inventor in the garage or someone making a small film on their iphone. that's not you. you directed big hollywood movies before and have courtside seats with the knicks and a role lo decks with a-listers. is there a difference between what you're doing and the guy making a movie with his iphone? >>. no. because we're both appealing to people to make pledges to get our work. i went to the co-founders of kickstarter, yancy and perry and they said, spike, we made this for everybody. the co-founder said, i'm okay with it. also, we're bringing people to kickstarter who never even heard of it. never even heard of crowdfunding. they're going to inve invest -- they're going to pledge in my film and invest in others, too. >> is there a difference between pledging and investing? what do i get if i kick in 1,000 bucks for the next film.

>> when you pledge, there are rewards for every pledge. it's not really an investment. on kickstarter, you can on only -- $10,000 is the limit. so for me, the $10,000, 10,000 bucks, i take you to dinner, and you sit courtside with me, my wife's seat, thank you, tanya, at the world's most famous ar a arena, madison square gardens. >> i could see it on tv. still, it would -- >> they could lose -- >> no. you don't know basketball. sitting with me, courtside seats that's an experience. also, we sold 27 of those. >> $2710,000 packages? >> the tickets cost me $3500 and steven spielberg was the first one who himself said the same

thing about hollywood the other two said and no longer will work in hollywood but in film and cable work. >> we see sequels sometimes to movies made 20, 25 years ago, if not sequels, remakes. we see a remake to "total recall," a remake to "dirty dancing." "do the right thing" was a huge film. >> it was huge culturally but not huge as far as box office goes. >> what would you say if someone came to you and said i want to do a remake or do the right thing? >> i would say we want to do it as a broadway play. >> is that in the works? >> yes. my man, james, who owns half of the theaters in broadway. >> will you do a musical? >> we will speak to stevie wonder. >> you see these remakes selling right now, you're not opposed to

the notion to try this? >> no. because my new film "old boy" will not coin a remake, reinterpretation, a korean film that came up starring josh brol brolin, which came out this thanksgiving. for me, spielberg and lucas said themselves, this business plan is going to collapse the movie businesston itself. >> a little earlier you brought up the new york knicks. let me ask you, this is a money show, a business show. knicks are a team if you're old enough you can remember they did win a championship 41 years ago. >> 41 years ago. >> you have to be really told remember something that long ago. let me ask you this, lebron james can opt out of his contract. do you think the knicks have any shot of signing him? >> i don't think so. if he had want god to north carolina, he would have gone to -- gone to new york instead of miami.

and the heat has won championships back to back and going for a three-pete. think about it. once you get under the grasp of pat riley, it's hard -- >> you guys had him and couldn't hang onto him. a pressure leasure to meet you to you. talking sports, jerry mcgwire and football player rod d d tidwell made it clear what he wanted from his agent. >> show me the money! show me the money! >> a summer of athletes behaving badly has left some pretty thick wallets lighter and fans are wondering what can possibly happen next. right now, 7 years of music is being streamed.

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this summer has been a hot one for athletes behaving badly. not all of them, just a sliver. when it happens it certainly grabs the headlines. more than 30 nfl players have been arrested since the super bowl. of those, aaron hernandez face most serious charges. he was arrested and charged with first-degree murder. hernandez is wading trial in jail. last week a video surfaced of riley cooper saying a racial slur at a kenny chesney concert. he apologized and sent home from training camp and since returned to the team. johnny manziel is under investigation and looking at reports manziel was paid thousands of dollars for signing autographs, a major violation for college athlete, not the ncaa itself. finally, the bad boys of summer. 12 major league baseball players suspended for 50 games apiece

this week all linked to an anti-aging clinic in florida called biogenesis where they say they bought performance enhancing drugs. none of them failed a drug test. only one, third baseman alex rodriguez is appealing his 213 game suspension. joining me from the country club in rochester, new york, for the pga championship. we'll get to golf in a minute. let's get to a-rod making $25.7 million a year compared to the average joe, $29,915 a year. a-rod's contract with the yankees runs through 2017. critics say appealing the suspension is really all about money. the question is yankees have been looking at this a long time to possibly get out of this deal. would it be a smart business move if they could pay him out and cut ties? >> not really. they will be paying him $60

million. you don't want to pay a guy $60 million to do nothing. that's if the full suspension is upheld and he loses 30 million plus off that contract. if the suspension is lessened a little bit they will be paying him more than $60 million. you don't want to be paying that for the guy to do nothing even if you negotiated a settlement, alex rodriguez wouldn't take that much of a paycheck. brian cashman said if he is available and they are paying him, they will use him. if he is suspended as long as baseball has said he will be suspended for, and we will have to wait to see what an arbitrator will decide, that puts alex rodriguez at 40 years old. you have to wonder how much can he play at that point. if he makes a legitimate move to try to get onto the field, they are required to pay him. a very interesting financial situation. >> he could be 40 years old having take an full year off. former cardinals slugger mark mcgwire was asked about this, this week, now a hitting

coach. he told espn, everybody, especially the players, don't want any more part of it. i hope this is the end of it. i wish i was never part of it. rachel, obviously, this is not the end of steroids and peds in baseball, might it be a sort of turning point that we're seeing? >> yeah. i think this is the most interesting part about this story, john. this is really a sea change. in the mcgwire sosa era, you saw those teammates perform a pro-techtv nook around those players and nobody wanted to talk about steroids. now in clubhouses around the country, we are seeing players speak out saying we don't want cheaters in our game or competing against them for jobs. i think that change will not only shift the public and younger players decide whether or not to take performance enhancing drugs. we will always see people who try to cheat but could see the percentages change.

>> you're at a golf course following a superstar who battled back from controversy, very different controversy, not cheating in the game but life problems, talking to tiger woods. you spoke to tiger woods this week, coming off his 79th pga tour win last week. how is his comeback going? how are fans treating him on the course? >> fans here love him because they want to see him win again. it has been five years since tiger has won a major tournament. i have to say, he's had a fantastic year, better than anybody else in golf, won five titles and won nearly $8 million and done close in majors but had trouble closing. i asked him about that in the course. >> i will keep getting myself there, keep putting myself there. the key is if i'm there, then, you know, i have a chance to win. i just haven't done it in the last five years. but the key is keep putting

myself there. i'll start getting them. >> for you, you had a tremendous year and so many parts in the last five years, you played great golf. you seem to want that major so badly. why is it so important to you after all this time? >> they're the biggest events. it's neat being part of golfing history. you know, i've won 14 of them and they're so unique and so different, you're playing against the best fields, you're on the most difficult venues, and the pressure is fantastic. it's fun. so that's why there's a rush, why we play them and why we love them. >> rachel, thank you very much. head over to cnn money to take a look at how much the all time greatest golfers earned for winning major championships, major money, golf's biggest winners up on cnn money right now. dr. gupta, he was against the use of medical marijuana and

now he says he was wrong. he joins me next. ñe

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we talk a lot about budget cuts and underfunded schools, even cities going bankrupt. one idea that has a lot of people talking, legalized marijuana and tax it like crazy. according to harvard economist jeffrey meyer, legalized pot could save the government 7.$7. billion a year in enforcement cost and bring it sixes.2 billion in tax revenue. that's a total of $13 billion in revenue. there's the other serious part, people that argue pot isn't

really bad for you. in some cases, has major health benefits. i want to bring in cnn's chief medical correspondent dr. sanjay gupta. you have a special airing this weekend named "weed" and you talked to doctors and sponsors and you've been researching this over a year and what's fascinating here, you had change of heart. >> i think that's very fair to say, john. i have had a change of heart. i've been critical of medical marijuana in the years, written magazine articles about it, pointing out in my opinion at that time the evidence just didn't stack up. if you go looking through the medical journals now of medical marijuana, there are papers out there but the majority designed to look at harm. about 60% or so my calculation -- 6% or so, my calculati calculation, designed to look at benefit. it gives a distorted image of what we know about it. to me, it took getting outside the country, looking at other

labs and talking to legitimate patients with legitimate problems, not only did marijuana work, it was the only thing that worked. ahead a change in large part because of this journey. i see how it worked when nothing else did. i want you to see chaz moore, a 19-year-old with a condition known as i do gradiaphragmatic . >> reporter: meet chaz moore, using different strains of marijuana to treat his problem with his diaphragm. that's why he's talking this way almost in hiccup because he can't catch his breath. he will show me how the marijuana works. he's been convulsing seven minutes. >> reporter: how quickly do you expect this to work? >> within the first five minutes. and i'm done, like -- that's it.

>> reporter: it was actually less than a minute. >> john, he had taken so many different medications, only one person but emblematic of many mo more, and so many medications weren't working and had been in the intensive care unit. scary stuff. he's taking a strain of marijuana, high in cbd. thc is the stuff psychoactive, can make you high and cbd,s which the more medicinal part. you can have a more medical part of this marijuana without getting the high. that's a lot of what chaz is doing. >> incredible how quickly that worked. dr. sanjay gupta, thank you so much. this special getting a huge amount of buzz. don't miss his special called "weed" sunday at 8:00 p.m. coming up, jeff besos, warren buffet, billionaires buying up newspapers, what it mea

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so you heard newspapers are dying. why are billionaires dying? i'm john berman in for christine romans. this is a newspaper. maybe you never flipped through them and maybe your kids have never seen them. newspaper readership is drying up and digital can't close it up fast enough. for every $15 newspapers lose in print revenue they gain just one dollar in online revenue. the business model clearly struggling and price tags plummeting. so enter the billionaire buyer. they're grabbing up the nation's newspapers at fire sale prices. $70 million bucks, that's how much boston red sox owner paid for the boston globe, less than 70% what was paid for 20 years ago. and $41 million what berkshire

hathaway paid for 28 newspapers. buffet has bought more papers this year. then there's jeff bezos. the amazon founder is shelling out $250 million for the "washington post," a paltry 1% of his personal fortune. as our jim acosta reports, billionaires have gone shopping in america's "newsroom." >> reporter: watergate brought down a president. >> have to get something on paper. >> reporter: but it made a newspaper. a triumph not just for reporters bob woodward and carl bernstein but also for the family that owned the "washington post" led by its publisher, kathryn graham, now that leg gas sin the future of one of the most important newspaper rests in the hands of one billionaire, amazon founder, jeff bezos, a stunning $250 million deal that gives an all new meaning to the term --

>> just follow the money. >> reporter: the post now follows other major newspapers. "wall street journal" bought by conservative media titan robert murdoch and "boston globe" purchased by red sox owner john henry to be snatched up by the super wealthy and perhaps the "new york times" could land in the portfolio of libertarian billi billionaires, robert and charles cope. >> i think it's not exactly new. >> reporter: william hearst came from family that made its fortune mining. the classic film, based on hearst's life story noted how wealth affords the luxury of failure. >> i did lose a million dollars last year and expect to lose a million next year. mr. thatcher, at the rate of a million dollars a year, i'll have to close this place in 60 years. >> something bezos had in common he reshaped shopping online and

remaking of the news is next. >> bezos can spend an enormous amount of money on the "washington post" without really take doing much of a dent in his own private fortune. he has the leeway to make major experiments. >> everybody knows that newspapers have to change. >> reporter: the post chairman, donald graham insist "the post" commitment to journalism won't change. >> we will do its traditional job and maintains its traditional values but tries things. i hope a lot of them will succeed. >> reporter: a sentiment echoed by bezos in a letter to "post" employees that reads the values do not need changing and not to the private interests of its owners. we will continue to follow the truth wherever it leads. >> most newspapers today are terribly undernourished in terms of funding. there's been an unwillingness to

invest in investigative reporters and foreign bureaus have been closed down and they need to be reopened. a private owner with the kind of wealth that jeff has, jeff bezos has, can really make a huge difference. >> cnn political contributor, david gergen, who once worked for the nixon white house and came to know kathryn graham and editor, ben bradley, says bezos can afford make mistakes, but the mistakes are still high. >> if it had not been ben or kay, there would have been no woodward and bernstein and maybe the watergate story would have turned out very differently. who knows for sure. >> reporter: after the downfall of a president, it's just not washington without "the post." >> it will no longer be a publicly traded company, a privately held firm controlled by bezos. it will remain in place for some time but how long depends on jeff bezos. >> bill joionaires buying up

newspapers. should we be worried or optimistic? >> richard quest is the host of quest means business on cnn international. he does mean business. let me start with you. you wrote a great piece this week talking about why you are so optimistic jeff bezos is buying the "washington post." you think it's a terrific match. other people not so optimistic. one critic wrote great journalism has been hijacked by the powerful to spread their personal ideology. explain to me why is this a match made in heaven? >> as you've just seen, great powers hijacking newspapers at least owning them and pushing their own agenda is nothing new. the people i've spoken to at "the post" says without question the paper has to make the technological evolution. the business model is broken. if there is a guy out there that can transform digital businesses, it's jeff bezos.

people speak about him next to steve jobs as the next internet business leader of time. this is a guy that loves long form content. the kendall was ahead of the apple and ipad in terms of getting people excited about reading in the digital format. if he can transform this reading he will do something for "the post" and not just business in general. >> old school. >> love getting our fingers dirty. >> the small of newsprint. we are from that generation that just revels in the idea of definitelying into the paper. and what we hope, john, is that the bezos of this world will somehow unlock the potential for the digital revolution and marry it with the traditional. murdoch has not managed to do it. clearly. all he's done is split his company old and new. >> rupert murdoch now owns the

"wall street journal" among many other things. >> he's still trying to unlock that. the visionary -- he loves newspapers, don't get me long, loves the industry. >> too much. that's why he hasn't unlocked it. >> also, there's an old school nature to it. but with bezos, the hope is he will somehow not put a rocket up it but he will unlock the potential. >> let me talk about this. jeff bezos, john henry, warren buffet, these guys are good businessmen. you read twitter, you think print is dead and why do these businessmen want them so badly? just vanity? >> some is that but warren buffet i think is fantastic loves newspapers, not looking to transform the newspaper business, ditto john henry or sam zell from the "new york times." jeff bezos really wants to experiment and shift this medium

into the new age. >> then you have this -- >> oh, no. i will have post traumatic stress. i was at ""newsweek"" for a decade. >> this one under the hammer for next to nothing. having been in print and now online and now hardly there at all. and they have to deny they're hardly up for sale. >> ayou are holding up the "new york times" this week and they had to announce we are not for sale. >> this is how it's changing. just this week i subscribed to the home edition of the "new york times" because i've moved to new york. i did it -- i did it at 7:00 in the evening on wednesday, 7:00 in the evening on wednesday. on thursday morning at 6:00 a.m., it was outside the front door. >> i am very happy for you you have this time to spend with your newspaper. thank you so much for being with us. coming up next, what?

taco bell is extending its push into the fast-food breakfast markets but can american stomachs handle this? the peo out there owning it. the ones getting involved and staying engaged. they're not afraid to question the path they're on. because the one question they never want to ask is "how did i end up here?" i started schwab for those people. people who want to take ownership of their investments, like they do in every other aspect of their lives.

on friday, some gun owners celebrated starbucks appreciation day with a few extra shots, not in their cappuccinos. at starbucks around the country, gun owners showed off their weapons and honoring the company's policy to allow open carries at their store in states where it's legal, and some in connecticut and some took it to newtown.

a gun owner said it's too soon after the sandy hook shootings. a look at other stories that matter to your money this week. 60 seconds on the clock, it is "money time." >> fast-food meets science fiction. the first stem cell burger was cooked and eaten this week. it was made in lab from a cow's muscle cells. if you're not ready for a stem cell burger, how about a waffle taco? taco bell is expanding its push into the lucrative fast-food breakfast battle. diploma, debt, default, about half of the $1 trillion in federal student loan debt is not being repaid. 1 in 8 borrowers are defaulting on their loans. all that debt could explain why drivers are keeping their clunkers around longer. the average car in the u.s. is more than 11 years old. that's a new high and it's expected to keep climbing. though, not if gm can convince

drivers to buy a new chevy volt. the company knocked the price down by $5,000. electric cars had been marked downed across the board in an attempt to lure new buyers. waistlines be wear. ring dings and yodels are making a comeback next month. they disappeared off store shelves when they went out of business last november. >> it has been four years since the end of the great recession, but unemployment is still high. 11 million people out of work, all the people living in new york city, 7.4%. but one specific demographic has a lower jobless rate. asian-americans, just 5.7%. zane is here to explain why that might be. zan zane. >> hi, john. even during the height of the recession, asian-americans surpassed other ethnic groups

when it came to getting jobs. it's hard to pinpoint one specif specific -- google. his parents came here from south korea when he was just 2, working at a dry cleaning store, he say, so he and his sister could go to college loan-free. >> they in stilled in me a certain work ethic and focus on just studying very hard. >> of all the major ethnic group, asian-americans have the lowest level of unemployment. >> any time you hear somebody or your group as a whole is doing well, it's a point of pride. >> at dramafever, an online window to asian entertainment, young asian-americans feel the drive to succeed. >> with immigrant mentality comes family value nothing is taken for granted. we really have to work for what we want. >> about half of all asian-americans hold a bachelor's degree compared to

28% for the rest of the population. >> the focus is just get an a. >> even among other minorities with college degrees, asians still have the lowest unemployment rate. lee says that might be because of how asians are viewed in the workplace. >> there is a stereotype of asian-americans just being like the worker bees. they come in early, work late and they execute comparatively wel well. >> even if the job isn't particularly well paid. >> my mother was a surgeon in china. when she came here, her first job was actually a waitress and dishwasher at a sushi restaurant. i don't think she felt it was beneath her. >> they don't see manual labor jobs as a reflection of their own self-worth. >> reporter: another reason for the low unemployment, self-employment. the number of asian owned businesses in the u.s. increased 40% between 2002 and 2007, twice the national rate. but there are other stereotypes

still holding asians back. >> that we're not creative and don't know how to think outside the box. >> they get perceived as one dimensional workers and get stuck in these so-called white collar sweat shops where these glass ceiling barriers prevent them from moving up the ranks. >> reporter: the younger generation is trying to change that. >> this new generation of asian-americans that, you know, they're very different from that storyio type. >> reporter: 10 years from now, probably you'll see everyone here, a ceo or something. >> reporter: speaking of ceos, even though asians have the lowest level of unemployment, of all the companies in the fortune 500 only two have east asian ceos. you have people like the ceo of pepsi indian american. but in terms of east asian ceos, there are only two. >> thank you. next, why facebook's mark

zuckerberg and other technology is pushing for immigration reform. that's next.

facebook, google, microsoft, cut throat competitors in the business world, but on immigration reform they stand united. whether it's mark zuckerberg or eric shmidt, they are visionaries who helped shape our present. now they're working hard to shape the future. this week zuckerberg spoke publicly about immigration reform for the first time. >> the students who, you know, no matter where they were born are coming into this country are going to be tomorrow's entrepreneurs and the people creating jobs. this is something we believe is really important for the future of our country and for us to do

what's right. >> he has a vested interest. technology companies say they have jobs and not enough skilled workers to fill them. they u.s. universities educate some of the most talented students in the world then to go home and create. something complained about on this show when speaking recently with christine romans. >> it's particularly stupid for the american government to require us to fully educate people with ph.d.s, ship them out of the country where they can create competitors in other countries that take american jobs away. >> if we want to bring a person here to be educated, you should never then make them go away. and there's some categories of jobs where you know other jobs are created around them. so forcing those back to asia doesn't make sense. >> so the tech industry is making its case loudly, the question is is washington listening? dana bash is cnn's chief

congressional correspondent, a reporter in the worldwide reporting hall of fame. dana, the senate passed a comprehensive immigration reform bill. it stalled in the house right now. but here's what senator chuck schumer said on cnn's "new day." >> we would much prefer a big comprehensive bill, but any way that the house can get there is okay by us. i actually am optimistic that we will get this done. >> he's now talking about the possibility of supporting a piecemeal approach. that seemed like a marker of sorts. how do you see this shaking out? >> it was a marker. certainly that's the way it's being perceived by house republican leadership sources who i've spoken to about that. the only catch is that he is, you know, putting out an olive branch saying that if republicans want to pass immigration in the process of splitting it up in smaller bills, that's fine. he's moving away from his whole idea of comprehensive immigration reform. but here's the but and it's a big but, what they're not going to go for in the senate, these

people who support a comprehensive reform, is saying, okay, we're going to pass a border security bill now skm then in a year or two years we'll get to the issue of legal status or sit zipshcitizenship. there's definitely an important gray rare e area. the fact he pointed that out is certainly telling. i will tell you quickly the whole fear going into this month-long recess where we are right now is among supporters of immigration reform was that republicans in the house would get blasted by conservative constituents, the base, saying don't you dare touch this. what we've seen so far is actually the opposite. we've seen republican leaders come out and be much more open to the idea even of legal status. we're talking about the house majority whip kevin mccarthy and the house judiciary chairman. that has been surprising and maybe a sign this whole idea is not dead after all, which a lot of people thought. >> dana bash, thank you so much. as you said this summer recess key in the immigration debate. thanks, dana. so much for that old sales adage

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it is a hot summer. and i don't mean the temperatures. home prices are up about 20% in

san francisco, las vegas, phoenix, atlanta and los angeles. and as christine romans reports, you may be competing with buyers you wouldn't expect at the next open house. >> reporter: it's a saturday afternoon in this hong kong hotel. and chinese investors are enjoying a catered lunch while bidding on properties half a world away. [ speaking in a foreign language ] >> reporter: spending hundreds of thousands of dollars on properties they may never set foot in. the chinese are now second only to the canadians when it comes to buying real estate in the united states. but when they buy, they buy big spending on average $425,000 per property. and most of the time they pay all cash. all cash, preferring big cities like new york and their suburbs. so what's the draw? >> upside potential, surroundings. we've got friends and folks who live there, so it's keeping up with the joness. >> reporter: for andrew chen a place to stay on vacation and

quite simply a deal. real estate prices in china are sky high. that means its citizens are cutting checks without stepping foot inside a property on the other side of the planet. expositions like this one for development in florida have become a normal event. this exposition hosted by the o neil group and mobile apex. >> we expect the u.s. economy continue to grow. one way or another the property price will still go up. >> reporter: in the united states anyone with cash can buy real estate regardless of citizenship. a very simple contract is all it takes, something new for chinese citizens. >> it's kind of security to owning property in the u.s. that still doesn't exist in china. it's only recently that the chinese government has appropriated property fairly regularly. that means the people who still have means are still nervous about their ability to hang onto those means if they invest in china. >> reporter: 53% of reported purchases by chinese buyers were in california. why? because it's closer. as a result, the market has

changed. seasoned l.a. broker sally forester jones has had to change with it. >> i had to spend some time in china just meeting a lot of the potential chinese buyers to get an understanding of what types of property they like. they are buying anywhere from the lower end in the los angeles marketplace, which is somewhere around a million, to the, you know, high end $20 million. >> reporter: andrew chen has hi eyes on a few homes in the u.s. >> a lot of information provided. yes, very informative. >> reporter: he's not ready to buy just yet. when he is, experts say china's restrictions on transferring the money out of the country will be relatively easy to navigate. christine romans, cnn, new york. >> lucky for all of us christine romans will be right back here next saturday. until then, check out the your money blog, cnn.com/yourmoney while your